SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) May 18, 1995
CONCORD CAMERA CORP.
(Exact name of the registrant as specified in its charter)
New Jersey 13-31152196
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
0-17038
(Commission File Number)
35 Mileed Way, Avenel, New Jersey 07001
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 499-8280
Page 1 of 4
Item 5. Changes in Registrant's Certifying Accounts
On the recommendation of its Audit Committee and by action
of its Board of Directors, Registrant, on May 18, 1995,
terminated the engagement of the firm of Deloitte & Touche LLP
("Deloitte & Touche") as independent public accountants for
Registrant and retained Ernst & Young LLP ("Ernst & Young")
independent public accountants, effective immediately. During
the two most recent fiscal years and for the period through May
18, 1995, the Registrant has not consulted with Ernst & Young on
items which (1) were or should have been subject to SAS 50 or (2)
concerned the subject matter of a disagreement or reportable
event with the former auditor (as described in Regulation S-K
Item 304 (a)(2).
Deloitte & Touche's report on the Registrant's financial
statements for the fiscal years ended June 30, 1994 and 1993
contained no adverse opinion or a disclaimer of opinion, nor was
it qualified or modified as to uncertainty, audit scope, or
accounting principles.
In connection with its audits for the fiscal years ended
June 30, 1994 and 1993 and in the subsequent interim period
preceding the termination of Deloitte & Touche's engagement and
the engagement of Ernst & Young, there have been no disagreements
with Deloitte & Touche on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure, which, if not resolved to the satisfaction of Deloitte
& Touche would have caused it to make a reference to the subject
matter of the disagreements in connection with its report.
No "Reportable event", as defined in Regulation S-K, Item
304 (a)(1)(v) has occurred within the last two fiscal years and
in the subsequent interim period preceding the termination of
Deloitte & Touche.
Registrant has requested that Deloitte & Touche furnish
Registrant with a letter addressed to the Securities and Exchange
Commission stating whether it agrees with the foregoing
statements. A copy of Deloitte & Touche's letter to the
Securities and Exchange Commission is filed as an exhibit to this
Form 8-K.
Item 7. Exhibits
1. Letter of Deloitte & Touche.
Page 2 of 4
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: May 22, 1995 CONCORD CAMERA CORP.
(Registrant)
By:/s/ Harlan I. Press
Name: Harlan I. Press
Title: Chief Accounting Officer
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Deloitte &
Touche LLP
Two Hilton Court Telephone:(201) 631-7000
P.O. Box 319 Facsimile:(201) 631-7459
Parsippany, New Jersey 07054-0319
May 24, 1995
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of
Concord Camera Corporation dated May 22, 1995.
Yours truly,
DELOITTE & TOUCHE LLP
